Enterprises accelerate investment to anticipate new opportunities

Illustrative image (Photo: VNA)

Hanoi – As 2023 is forecast to be a difficult year driven by increasing inflation and economic recession at the global level, enterprises in Vietnam have actively built scenarios to adapt to market recovery and anticipate new business opportunities.

According to the General Statistics Office (GSO), Vietnam attracted foreign direct investment (FDI) worth 1.69 billion USD as of January 20 this year, down 19.8 per cent annually.

However, in the month, local authorities granted licences for 153 new FDI projects worth 1.2 billion USD, up 48.5 per cent in number and 3.1 times in value.

This is considered a new signal that opens up more chances for businesses in 2023.

Duong Nguyen Thanh, deputy director of Haast Industries Vietnam Co., Ltd, said that the number of new electronics orders in the world has declined sharply since late 2022, mainly in the consumer electronics sector.

The decrease is affecting Haast’s operation and output. However, the factory has taken different measures to ensure flexible adaptation such as strengthening connectivity with existing partners, seeking new customers to maximise production capacity, and increasing the governance capacity and human resources quality to meet high requirements of choosy markets.

Trinh Van Quang, Vina CPK-Project Development Manager, said that his company is investing in building Ba Thiet II industrial park in Binh Xuyen district in the northern province of Vinh Phuc with an area of 308 hectares.

At present, the occupancy rate at the cleared area reaches 100 per cent with many large enterprises from the Republic of Korea, Japan, the US, Sweden, and Taiwan (China), which operate mainly in high-tech and environmentally-friendly production and business industries.

More realty businesses established, resume operations in 2022 The number of newly-established enterprises and businesses resuming operations in the real estate market saw a remarkable rise last year, said the Ministry of Construction.

Flexibility encouraged as enterprises steel for strain A series of listed steel companies reported losses in 2022, and the outlook for 2023 is expected to also remain negative.